Category Archives: College Life

College’s Striking Impact on Students’ Bank Accounts

It’s pretty well-known that college isn’t easy on your bank account. After all, without rich parents or a great scholarship, you’ll likely end up with thousands of dollars of debt that may take you many years to pay off. But in the short term, while you’re still in college, it may actually continue to have an impact on your bank account. OneClass recently completed a survey regarding students’ bank accounts, and whether you’re currently a student or you just want to know more about student finances, there are some interesting takeaways.

The Data by the Numbers

The study had a few different questions, mostly to try and map demographics, but the crux of the survey was a single question: How much money is in your bank account right now? This number included both checking and savings accounts. Here’s the raw data to that set of responses.

  • 13.5% responded $0-50
  • 22.8% responded $51-$500
  • 10.5% responded $501-$1,000
  • 10.3% responded $1,001-$2,000
  • 20.1% responded $2,001-$5,000
  • 13.0% responded $5,001-$10,000
  • 9.8% responded $10,000 or more 

These numbers already showcase some interesting concepts, but it can be hard to truly understand a survey with just the numbers. What do these numbers really mean?

A Substantial Chunk of Students Have Less Than $50 in the Bank

Looking at the numbers, you can see that 13.5% of all students who took the survey said that they currently have between $0-$50 right now. This is a pretty startling number — it’s barely enough to cover a dinner at a casual dine-in restaurant.

It’s true that this number could potentially not tell the whole story. After all, a student taking the survey may have just paid off large bills right before a paycheck. But the fact remains that over one out of eight people who took the survey reported this number, which is a pretty substantial amount.

Over a Third of Students Likely Couldn’t Cover a Surprise Expense

In its assessment of the United States’ financial wellbeing, the Federal Reserve asks a simple question: If you had to pay for a surprise $400 emergency expense tomorrow, how would you pay it? This is relevant because of the sheer number of people who responded that they currently have $500 or less in their banking accounts — definitely not enough to cover any sort of significant expense.

Altogether, 36.3% of students responded that they didn’t have more than $500. Though this statistic may not jump out to you as much as individual measurements, it’s an important one because it has to do with preparing yourself for an emergency. It’s definitely worrisome, regardless of antecedents that may have an impact on the responses.

Most Students Don’t Have Enough for an Emergency Fund

An emergency fund, according to most experts, should be enough to cover 3-6 months of expenses. This emergency fund could cover a person if they were to lose their job abruptly or experience an unexpected medical incident. But that adds up, and 3-6 months is definitely at least $5,000 in most areas. The fact of the matter is, most students just don’t have that much money.

77.2% of students, which is just over three-quarters, reported having $5,000 or less in both their checking and savings accounts. That means it’s not exclusively money stored away for use in case of an emergency. With that many students unprepared for a crisis, it’s definitely sobering to think about other collegiate expenses.

Conclusion

Certainly, some antecedents could have contributed to the results of this survey. After all, you can’t control for everything or ask every question about students’ finances. But it does give an important general conceptualization of students’ current financial wellbeing. What can you learn from this study? If you’re a current college student, it showcases how important it is to focus on maintaining your finances well. If you’re interested in going into college, it offers some insight into how important it is to build up a safety net of savings. Either way, you should definitely take heed of this information.

Knowing what to study as an adult

After several years of being in the work world, you are likely to find yourself in a position where you are wanting to move jobs, get a promotion or start your own business. It is definitely a period of change and a deepening of understanding which direction you want to go into. It is often the pivotal point in your long-term career, where you have built some experience and have had some exposure but not if you’re ready to forge a clear way forward. It can be hard knowing what to go on to study that will equip you with what you need to make the next move. Here are a few ideas to picking your next learning pathway.

Project management course

You can do a diploma in project management because project management is underlying that supports just about anything you do in business and in your job. Having good project management will help you know how to manage people, manage budget and prioritise and execute tasks. You can choose whether to do your course online or through a university or college, but make sure that it is a recognised certificate or qualification that you can use to improve your resume.

Business acumen ability

Being in business you will want to have a better understanding of how business works overall, whether it be how money is made, money flows through the business or how the practice of management strategies, such as lean management can help improve cash flows and profits. There are several courses that can help develop your business acumen. Popular ones would be a diploma or master’s in business administration and while the name is a bit misleading, you will learn the basics of all aspects of business. This includes marketing, economics, accounting, and even human resources and logistics.

Go industry-specific

Depending on what industry you are in and what direction you are wanting to go and grow into, your further learning may be best suited around doing something that is industry-specific and helps. It could stand you in a good position if you’re looking to improve or motivate for a bigger paycheque because if you’re better skilled and qualified in your position, you will be highly valuable to your company.

General short courses

There are tonnes of short courses available online which don’t necessarily have the credibility of a university or college but do offer comprehensive learning tools to learn a particular skill. This could be a great way of identifying and boosting your skills and knowledge in something like software skills or in public speaking. The range of what is available is vast and you can almost do just about anything. Try to find a way to map your skills and identify the areas that you are lacking. Speak to your colleagues and bosses about what they’d like to see you do better at and find a course that can address that. The cost of these courses can be incredibly low because they work on a model of scale.

What exactly is a mini-MBA?

It is often said that learning the language of business and understanding the thought process of it, is the secret to success. Which is why, the perspective of current generation prospective MBA students are changing, seeking for a flexible mode of study, like a mini MBA. This is typically an accelerated business program, with an emphasis on the specific needs of students.

Although not an alternative to a full-time MBA programme, it is definitely a great way of topping up your business knowledge and enhance your portfolio. Besides introducing you to a broad range of business areas, the mini MBA programme will help you gain a good grounding of the key strategies, leadership issues and the latest trends in business. This blog will help you explore mini MBA in-depth and provide you with the reasons why you should choose to study it.

The Mini MBA refers to a fast-track format of the MBA, concentrating the one or two years of the content of a regular MBA into around 28 hours (four days) of tuition. It provides students with an overview of the business landscape and how all the operations work together. A mini MBA programme is structured to provide an introductory insight into business, preparing students for further exploration of the field of business administration.

This concentrated, informative training (usually on a specific topic) will help you gain a foundational understanding of that particular area, then moving on to focusing on a different topic each week, such as finance, business ethics and leadership. Such MBA courses not only assures students of acquiring employment after graduation but are also significantly cheaper, with tuition fees starting around £2,000.

A mini MBA is geared towards offering prospective full-time MBA students the chance to understand the true meaning of a business degree before fully committing. Basically giving students a more comprehensive understanding of what an MBA involves. Candidates who are looking to enhance knowledge in a specific area, a mini MBA will be an ideal choice for them, as these courses are more specialised-focus than a full-time MBA.

This type of MBA is also apt for students who are looking to enhance their own business competency while remaining active in a specific role. The skills acquired through a mini MBA will not only benefit your personal and professional development but also improve your performance in the workplace. You will become capable of managing yourself and other individuals professionally, as well as lead high-performance teams.

Employers, nowadays, are increasingly drawn towards hiring mini MBA graduates, who are expected to possess enhance management skills and the right business acumen. If you want to develop your business understanding of a specific industry, then applying for a mini MBA can help you achieve that.

Five Ways to Stop Procrastinating and Get Writing 

Every writer, every creative, and every academic suffers from procrastination at some point in their careers. It’s by far the greatest enemy of any project, especially when it seems the more you try to focus on the task and stay motivated, the more you procrastinate. Everyone asks themselves at some point, “Should I just pay someone to do my online math class? Or finish my history project? Or write my english paper?” Before you go there, how do you break this cycle and stay committed to your project? The following are the top five ways you can stop putting off writing. 

  1. Stop Punishing Yourself for Procrastinating 

If you are unable to focus on a task and you keep feeling bad about it, you will be unable to get out of the vicious cycle that is procrastination. This is because the problem is often a psychological one rather than physical and it’s often caused by not feeling good enough to accomplish the task before you. So if you feel that you can’t do that task and you continue to beat yourself up about not being good enough to accomplish the task, you will likely never get around to doing it. Therefore, the first thing you should do is accept that you are procrastinating and realize that it has nothing to do with your ability to write.

  1. Divide the Writing Task Into Manageable Tasks 

Once you realize that you are genuinely scared of not being able to complete a perfect manuscript or writing task, the battle is half won. The next step is to cautiously approach the project or writing task by taking it one step at a time. Resolve to write at least 100 words a day or something similar and in a few days you’ll find your groove again and begin to enjoy your work. 

  1. Remove any Distractions 

In most cases, procrastination can be brought about or escalated by distractions. Social media is often the greatest culprit although visiting friends and family members may also be to blame. Most experts recommend turning off the internet when writing, unless you need it. The key takeaway here is that you want to limit your options for procrastination as much as possible. 

  1. Use Procrastination to Your Advantage 

We see it as the greatest threat to creativity, but when you simply can’t stop procrastinating, you may want to take the time to fill in any gaps in your story. It may be the best time to check in with your imagination and visualize your characters in their world. Finding the mood for your story using your imagination is a great way to snap yourself out of your procrastination.

  1. Make Your Writing a Solace 

There are some distractions that you may not be able to simply brush aside. For example, when you are going through a particularly stressful period in your life like a loss in the family or other similar traumatic event, the last thing you want to think about is writing. But if you can make writing therapeutic by finding refuge in your writing, you are likely to find meaning in your work and even produce your best work which will in turn help you deal with your situation. Stephen King wrote “On Writing” while recovering from an accident that nearly killed him.

 

Solo New York Elite Backpack Review

Whether you are looking for a backpack for your study needs or for your travels Solo New York has got you covered with their multi-purpose and intricately designed backpack. The team at Solo New York have spent a great deal of time on designing this lightweight and carefully detailed pack and customers who have purchased this item have been incredibly happy with the product. Let’s take a look at some of the key features of this pack and why it has become so popular in such a short space of time.

The Body

The main body of the backpack opens from the front of the pack rather than the top as many do and as a result it offers a large amount of space and simple access to your stuff. There is more than enough space here for all of your study materials and you could also comfortably fit a couple of days clothing in there too. This section is opened with two strong zippers which line the main body of the pack, allowing for easy access.

Shoe Storage 

Taking your shoes with you no longer means a second bag or sneakers hanging from the bottom of your backpack by their laces. The Elite Backpack has a separate shoe storage compartment at the base of the pack which sits on top of the main body of the backpack. There is more than enough space in there for two pairs of trainers or even a pair of boots. This section could also be used to store wet clothes or laundry, without it affecting the rest of your luggage.

Laptop/Tablet Storage 

A feature of the pack which we really love is the sleek and padded compartment for your laptop or tablet. The laptop compartment measures in at 17.3″ which is spacious enough for all laptops. The soft padding doesn’t add too much to the bulk of the pack yet it is solid enough to protect your gadgets.

Organizer

When you unzip the flap which covers the main body of the rucksack you will find that this doubles up as a handy organizer section which you can use to store all manner of smaller items. There is space here for stationary, for headphones, toiletries, wallets, passports and whatever else you see fit to stow away inside. Each section here has its own zip which makes it a great place to store anything valuable, and ensure that nothing falls out when you are moving around.

Additional Ease and Comfort

The backpack is ultra lightweight thanks to its nylon fabric material and to support you when carrying it both the straps and the back of the pack have thick padding for your comfort. Beyond this we love the sports zippers which are strong and very easy to open and close regardless of how full the pack is. The backpack also offers long side pockets which zip close, perfect for quick access and the pockets on the very top of the bag can fit your phone or your wallet so that you always have it to hand.

Conclusion

This is a great product which is comfortable to use, offers large capacity and has an abundance of small details which you will adore. At just $86.99 this bag makes for the perfect choice for your campus use, and it will be a back which will last for a very long time indeed.

 

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